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Federal Long Term Care Insurance Plan Open Enrollment Set For April 4, 2011
The Federal Long Term Care Insurance Program open enrollment begins April 4 for federal employees, postal workers, active military and others within the Federal system.
This is the first abbreviated underwriting opportunity for non-enrolled applicants since 2002. The Federal program currently has over 200,000 participants. During the open enrollment period applicants will answer fewer health questions in order to be eligible for the program.
According to Jesse Slome, executive director of the American Association for Long-Term Care Insurance http://www.aaltci.org, it is important for consumers who are eligible for the program to understand that this is a "group" plan utilizing nine simplified health underwriting questions. "The open enrollment period is a significant opportunity for those who already have some health issues and who may not health qualify for private LTC insurance," Slome explains.
The federal program does not offer good-health discounted rates. These generally reduce what one pays for coverage and are locked-in. Simply stated, they are not lost when the policyholder's health changes in future years. The federal plan also does not offer spousal or partner discounts that can amount to as much as 40 percent in annual savings for each person.
"Married couples and partners living together who are in good health can generally obtain significantly more coverage for less money and should definitely compare plans," Slome advises. The Association has established a special webpage where information on the Federal Long Term Care Insurance program is available and cost quotes can be obtained. Go to http://www.aaltci.org/
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Jesse Slome is executive director of the American Association for Long-Term Care Insurance http://www.aaltci.org the national trade organization. The Association's Consumer Information Center was voted the #1 source for information by consumer interest group rating and can be accessed at http://www.aaltci.org/